Intel (NASDAQ:INTC) won a Street-high price target on Sunday after Evercore raised its view on the chipmaker, citing improving execution, a recovery in CPU demand and Intel's role as the only leading-edge U.S. manufacturer.
Evercore Analyst Mark Lipacis upgraded Intel to Outperform from In Line and lifted his price target to $111 from $45. He said the company's latest quarter and forward guidance suggest the market may be undervaluing Intel's earnings power several years out.
Intel Is the new Technology darling :
Intel Corp. (NASDAQ:INTC)—once at the forefront of the chip industry before falling behind in key technological shifts—grew its net revenues by 7 percent in the first three months of 2026 to $13.6 billion versus $12.7 billion in the same period in 2025, on the back of strong demand for CPUs amid the rapidly growing AI era.
“They delivered their biggest revenue beat in more than 5 years with 7 percent growth. Their margins expanded dramatically too. All this comes down to something that I’ve mentioned a lot lately, the next leg of the AI revolution. The company’s proving so rapidly that it’s surprisingly been able to meet the demand that, well, that’s because Lip-Bu Tan is a great manufacturer,” Cramer noted.
Further buoying sentiment was an optimistic outlook for the second quarter of the year, with revenues projected to grow by 7 to 14.7 percent to a range of $13.8 billion to $14.8 billion, versus the $12.9 billion in the same period in 2025.
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